Shareholders are referred to the trading statement published on the Stock Exchange News Service (“SENS”) on 30 August 2018 wherein it was advised that Trencor’s basic earnings per share for the six months ended 30 June 2018 (“current period”) are expected to be at least 200% higher compared to the reported basic loss per share for the corresponding period in 2017 (“prior period”). In addition, it was advised that Trencor’s headline loss per share for the current period was expected to be at least 400% greater than the reported headline loss per share for the prior period.

Shareholders are now advised that Trencor’s basic earnings per share and headline loss per share for the current period are expected to be within the ranges set out below:

2018

2017

30 June

30 June

Expected

Actual

Cents

Cents

Basic earnings/(loss) per share

2 500 – 2 450

(486,7)

Headline loss per share

(740) – (723)

(144,5)

The further increase in the expected basic earnings per share beyond the “at least 200% higher” level indicated in the trading statement of 30 August 2018 is as a result of the recycling of accumulated foreign currency translation gains previously reflected in other comprehensive income to profit or loss. This transfer has no impact on the statement of financial position or total comprehensive income or cash flow of Trencor, nor does it reflect in headline loss per share.

The financial information on which this further trading statement is based has not been reviewed nor reported on by Trencor’s independent auditors.

The interim results for the six months ended 30 June 2018, including an updated net asset value calculation, are expected to be published on SENS on or about 28 September 2018.